Azania Bank

Azania Bank Limited, whose formal name is First Adili Bancorp Limited, and is commonly referred to as Azania Bank, is a commercial bank in Tanzania. It is licensed by the Bank of Tanzania (BOT), the central bank and national banking regulator.^[1]

Overview

Azania Bank is a medium-sized commercial bank that engages in retail banking, lease financing, foreign exchange transactions and import/export financing, as well the issuance of letters of credit. As of June 2014, the bank's total assets were valued at about US$178.1 million (TZS:299.5 billion). A that time, the bank's shareholders' equity was valued at approximately US$20.32 million (TZS:34.2 billion).^[2]

History

The bank was established in 1995, as First Adili Bancorp, by Tanzanian citizens, together with national pension funds and International financial institutions, including the East African Development Bank, the Swedish International Development Agency and an American merchant bank, Gerald Metals Inc.. Today, the main shareholders are Tanzanian pension funds and Tanzanian nations.^[3]

Ownership

As of November 2014, Azania Bank's stock is owned by the following corporate entities and individuals:^[4]

Branch network

Azania Bank has its headquarters in Dar-es-Salaam. As of May 2012, the bank maintains a network of branches at the following locations:^[5][6]

1. Masdo Branch - Samora Avenue, Dar es Salaam
2. Kariakoo Branch - Msimbazi Street, Dar es Salaam
3. Tegeta Branch - Chief House, Tegeta, Dar es Salaam
4. Mwenge Branch - Mwenge, Dar es Salaam
5. Mwanza-Mwaloni Branch - Mwaloni Fish Market, Mwanza
6. Mwanza-Nkrumah Branch - Nkrumah Street, Mwanza
7. Kahama Branch - Kahama Central Business District, Kahama, Shinyanga District^[7]
8. Arusha City Branch - Wapare Street, Arusha
9. Mbauda Branch - Mbauda Corner, Arusha-Dodoma Road, Arusha^[8]
10. Moshi Branch - Market Street, Moshi
11. Mawasiliano Branch - Mawasiliano Towers, Sam Nujoma Road, Dar es Salaam Main Branch
12. Geita Branch - Geita
13. Katoro Branch - Geita
14. Lamadi Branch - Simiyu
15. Kagongwa Branch - Kahama
16. TCRA Branch – Dar Es Salaam.

Governance

Azania Bank is governed by an eight-person Board of Directors of whom one is an Executive Director and seven are non-Executive. The Chairman of the Board is William E. Erio, one of the non-Executive Directors. The Managing Director of Azania Bank is Charles G. Singili. He is assisted by seven other managers in supervising the operations of the bank.

See also

• Economy of Tanzania
• List of banks in Tanzania

References

External links

• Azania Bank Is A Key Mortgage Lender in Tanzania
• Azania Bank Eyes SME Growth
• Bank Issues TSh65.2 Million To Upgrade Unplanned Settlements

Banks of Tanzania
Big four Banks	CRDB Bank Exim Bank National Bank of Commerce(NBC) National Microfinance Bank (NMB)
Commercial banks	AccessBank Advans Bank Akiba Commercial Bank Amana Bank Azania Bank Bank M Bank of Baroda Barclays Bank Tanzania Commercial Bank of Africa Dar es Salaam Community Bank Diamond Trust Bank Ecobank Equity Bank First National Bank Tanzania FBME Bank Habib African Bank I&M Bank ICB Bank Kenya Commercial Bank Mkombozi Commercial Bank NIC Bank People's Bank of Zanzibar
Major foreign banks	BancABC Bank of Africa Citibank Bank of India Stanbic Bank Standard Chartered United Bank for Africa United Bank Limited
Financial institutions	Maendeleo Bank Tanzania Postal Bank Tanzania Women's Bank Limited
Development bank	Tanzania Agricultural Development Bank Tanzania Investment Bank
Central Bank of Tanzania